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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis | The following tables set forth our assets and liabilities that were measured at fair value on a recurring basis by level within the fair value hierarchy:
(in thousands) |  |  |  |  |  |  |  |
As of June 30, 2023 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Balance as of June 30, 2023
Assets |  |  |  |  |  |  |  |
Equity mutual funds (1) |  | $ | 233 |  |  | $ | — |  |  | $ | — |  |  | $ | 233 |
Cross currency swaps (2) |  | $ | — |  |  | $ | 851 |  |  | $ | — |  |  | $ | 851 |
Foreign currency exchange contracts (2) |  | $ | — |  |  | $ | 4,316 |  |  | $ | — |  |  | $ | 4,316 |
Interest rate swap (3) |  | $ | — |  |  | $ | 4,315 |  |  | $ | — |  |  | $ | 4,315 |
Liabilities |  |  |  |  |  |  |  |
Cross currency swaps (2) |  | $ | — |  |  | $ | 1,802 |  |  | $ | — |  |  | $ | 1,802 |
Foreign currency exchange contracts (2) |  | $ | — |  |  | $ | 4,164 |  |  | $ | — |  |  | $ | 4,164 |
Deferred compensation (4) |  | $ | 233 |  |  | $ | — |  |  | $ | — |  |  | $ | 233 |
Contingent payments - acquisitions |  | $ | — |  |  | $ | — |  |  | $ | 120 |  |  | $ | 120 |
(in thousands) |  |  |  |  |  |  |  |
As of December 31, 2022 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Balance as of December 31, 2022
Assets |  |  |  |  |  |  |  |
Equity mutual funds (1) |  | $ | 385 |  |  | $ | — |  |  | $ | — |  |  | $ | 385 |
Cross currency swaps (2) |  | $ | — |  |  | $ | 9,262 |  |  | $ | — |  |  | $ | 9,262 |
Foreign currency exchange contracts (2) |  | $ | — |  |  | $ | 5,185 |  |  | $ | — |  |  | $ | 5,185 |
Liabilities |  |  |  |  |  |  |  |
Foreign currency exchange contracts (2) |  | $ | — |  |  | $ | 4,572 |  |  | $ | — |  |  | $ | 4,572 |
Deferred compensation (4) |  | $ | 385 |  |  | $ | — |  |  | $ | — |  |  | $ | 385 |
Contingent payments - acquisitions |  | $ | — |  |  | $ | — |  |  | $ | 120 |  |  | $ | 120 |
(1)Equity mutual funds relate to a deferred compensation plan that was assumed as part of a previous business combination. This amount is included within other long-term assets. Refer to footnote (4) below for a discussion of the related deferred compensation liability. (2)Cross currency swaps and foreign currency exchange contracts are included within other current assets, other long-term assets, accrued liabilities, or other long-term liabilities depending on the gain (loss) position and anticipated settlement date. (3)Interest rate swap is included within other long-term liabilities. (4)A deferred compensation plan assumed as part of a previous business combination is included within accrued liabilities and other long-term liabilities. The fair value of our deferred compensation plan is indexed to the performance of the underlying equity mutual funds discussed in footnote (1) above.
Schedule of Contingent Consideration Liability | Changes in contingent consideration liabilities are measured at fair value on a recurring basis using unobservable inputs (Level 3) and during the three and six months ended June 30, 2023, are as follows:
(in thousands) |  | Fair Value
Contingent consideration as of December 31, 2022 |  | $ | 120 |
Payment of contingent consideration |  | — |
Contingent consideration as of June 30, 2023 |  | $ | 120 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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